Singapore's IEV Holdings Limited (the Company, and together with its subsidiaries, IEV or the Group), referred Wednesday to the Media Report and wishes to clarify that its associate company, IEV (Malaysia) Sdn Bhd (IEV Malaysia) has signed a Technical and Services Agreement (Agreement) with Emrail Sdn Bhd (Emrail) and Ofnir Engineering Sdn Bhd (Ofnir) (collectively, the Parties) in respect of a crude oil handling facilities project in Bangladesh (the Project). IEV wishes to further clarify that the Parties have not been awarded the Project a...

On the 1^st of November 2014, Bangladesh suffered an electricity blackout that lasted 10 hours, making it one of the worst power failures in the country’s history. Although the current government has made significant improvements in the generation of electricity in recent years, which has increased from 4,130 MW in 2007 to 8,525 MW in 2013 ,1 this was the fourth blackout since 20032 and load shedding is still a reality3 with electricity shortages of up to 1000 MW in the peak summer season4 . However, ...

Bangladesh’s leading private power producer plans to reach full capacity early next year at a 335-megawatt plant, a senior executive said on Saturday, as the country seeks to plug a shortfall in electricity supply. The power unit of conglomerate Summit Group is implementing a $319 million project to raise electricity production from the current level of 210 megawatts. “The combined cycle project is almost in its completion stage and we hope to produce with full capacity by the end of February,” A.N.M. Tariqur Rashid, deputy managing ...

US oil and gas giant Chevron is eyeing to invest more in oil and gas exploration activities in Bangladesh to meet the country’s mounting energy demand, Chevron Bangladesh President Geoffrey Strong told the FE Tuesday. Chevron has already invested around US$1.5 billion in the past one decade’s operation in Bangladesh, he said. After commencement of the $500 million Bibiyna Bibiyana Expansion Project, Chevron has submitted a fresh investment proposal worth around $650 million to state-run Petrobangla to i...